Madrid, october 29, 2025. COFIDES, through its Co-Investment Fund (FOCO), has committed €100M to InfraVia Growth II, a private equity vehicle managed by the French firm InfraVia Capital Partners.
InfraVia Growth II partners with leading European digital entrepreneurs to accelerate their growth. The fund focuses on high growth B2B companies, supporting their expansion and internationalization. With a targeted fund size of up to €1bn, it focuses on digital transformation—one of FOCO’s key investment priorities. The fund’s strategy is centered on B2B software companies, particularly in artificial intelligence, fintech, cybersecurity, digital health, climate technology and vertical software - critical sectors for driving Europe’s digital transformation.
FOCO’s investment reflects its mandate to support strategic industries with high potential for impact. Importantly, at least twice the amount invested by FOCO will be directed toward Spanish companies, thereby strengthening the national tech ecosystem. InfraVia Capital Partners already has experience in the Spanish market through its previous fund, giving it a solid understanding of the local landscape.
Ángela Pérez, COFIDES’ Chairperson and CEO, highlighted: “This investment underscores COFIDES’ and FOCO’s firm commitment to sustainable growth and technological innovation in Europe, with a particular focus on Spanish enterprises.” Through our partnership with InfraVia Growth Fund II, "we aim to accelerate the digitalization of key sectors and enhance the competitiveness of our companies in an increasingly demanding global environment.”
Vincent Levita, Founder and CEO of InfraVia Capital Partners, commented: “We are very pleased to welcome COFIDES as a limited partner in our second Growth Equity Fund. With already three investments in Spain through our first fund, we are very supportive of the Spanish digital ecosystem. This partnership represents an important step in our strategy to support digital transformation across Europe, helping tech companies accelerate their growth and become regional leaders. Having already completed three investments in Spain through our first fund, we remain strong supporters of the country’s digital ecosystem.”
ABOUT FOCO
FOCO is a fund created by the Government through the addendum to the Recovery, Transformation and Resilience Plan (PRTR) and has resources from the NextGenerationEU instrument. The purpose of FOCO, which is endowed with €2,000M, is to favor foreign investment in the Spanish economy, boosting access to financing for companies linked to the ecological and digital transitions, as well as biotechnology and technological innovation. FOCO investments must be contributed by a foreign co-investor and may be made through direct investment in companies or investment funds. The fund is fully operational and project proposals for FOCO funding can be submitted to foco@cofides.es.
ABOUT INFRAVIA
Founded in 2008, InfraVia is a leading independent private equity firm, specialized in real assets - infrastructure, critical metals, real estate - and technology investments.
InfraVia is a conviction-driven investor focusing on resilient businesses partnering with management teams, entrepreneurs, or industrials to develop their businesses and drive long-term value creation through active hands-on asset management.
Headquartered in Paris, InfraVia has a 100+ strong team and is 100% partner-owned. InfraVia manages EUR 16 billion of capital (total amount of capital raised) and has invested in 50+ companies across Europe.
ABOUT COFIDES
COFIDES is a state-owned trading company that manages state funds, as well as its own resources and those of third-party institutions. COFIDES's mission is to support the internationalization of the Spanish economy, attract foreign investment into strategic sectors in Spain, promote the impact economy, and contribute to global economic development. COFIDES is also instrumental in strengthening the solvency of Spanish companies, particularly in response to challenges such as the COVID-19 pandemic. COFIDES’s shareholders include the Spanish State, Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell, and CAF-Development Bank of Latin America.
